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Updated over 7 years ago,

User Stats

95
Posts
52
Votes
Joe J.
  • Investor
  • Los Angeles, CA
52
Votes |
95
Posts

California real estate forms and transaction help

Joe J.
  • Investor
  • Los Angeles, CA
Posted

Hi.  I'm in California and am considering brokering my own deal for either a sfh or a multi-unit house hack that I plan to live in.  I live in a relatively high cost area in southern California and prices  quite high so I am trying to make a little in commissions to help with the affordability here.

I've had a brokers license for quite some time now but have never used it and frankly do not have a lot of transactional experience.  With that being said, is there a good resource where I can get all of the necessary documents (preferably e-document) for a purchase?  I tried doing a quick search on BP but failed to find anything.  I know CAR has some forms you can purchase for non-CAR members but was wondering if there are any other good alternatives.

*Additionally, is it legal/possible to structure a deal with seller/seller agent to discount the agreed upon price in exchange for the seller NOT paying me commission?

For example, if we agree on a purchase price of $1M and a commission of 2.5% for buyer agent (me), could I:

1) Reduce purchase price from $1M to ~ $975,000 (less difference from making seller agent whole)

2) Agree to make seller agent whole (receive $25k gross commission)

I know this is penny pinching but I'd prefer this over a standard deal so that I could lower my property tax rate and also not incur income tax on the commission.

I feel that this wouldn't work as I would most likely have receive some amount of income for my services.  If this is the case, what is the bare minimum?

Appreciate any feedback, thanks!

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